The Supervisory Board CIIC discussed the implementation of existing projects

Baku/01.10.13/Turan : Supervisory Board of JSC "Caspian International Investment Company " (CIIC) met last week in Istanbul (Turkey ) to discuss the current status and progress of implementation of existing companies in the financing of projects.

The Baku headquarters of CIIC told Turan, that no public policy decisions at a meeting of the National Assembly was not accepted. The number of projects funded by the investment fund remains the same. No changes in the composition of the shareholders.

Azerbaijan at the meeting of the Supervisory Board of CIIC was represented by the Executive Director of Azerbaijan Investment Company (AIC) Rovshan Najaf.

It is expected that by the end of this year, the National Assembly will consider several pending projects. "We expect to be approved for funding at least one project," said CIIC.

Today's investment portfolio of CIIC consists of three projects. The total funding for these projects is $ 13.4 million including warehouse space in Ganja ($ 5.5 million), the residential complex Villa Badam ($ 6.4 million) and the agricultural enterprise "A-agro" ($ 1.5 million).

CIIC was established in March 2008 in Azerbaijan. The investment fund operates on the principles of Sharia. CIIC authorized capital is $ 31 million, allocated as follows: AIC - 24.1%, the Islamic Corporation for Development - 18%, Islamic Development Bank - 27.1% Investment Group AREF - 14,5% and the group Al- Ahmar - 16.3%. -08D-